The lender issued its first tokenised USCP last Wednesday (Aug 20). The six-month maturity notes were sold to an accredited institutional investor, and OCBC received the proceeds within minutes of the completed transaction.
Oversea-Chinese Banking Corporation (OCBC) has rolled out a US$1 billion ($1.28 billion) digital US commercial paper (USCP) programme using blockchain to gain a new short-term USD funding avenue.
The tokenised structure allows the bank to settle transactions within minutes, as both securities and cash are recorded on-chain. OCBC said the move strengthens its liquidity resilience by providing an alternative route into the US$1.4 trillion USCP market, complementing its conventional US$25 billion programme established in Aug 2011.
